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The HK market followed A shares to fall sharply. .
The market opened slightly higher on Friday. Hang Seng index opened up 12 points, H share index up 6 points and technology index up 8 points. JD rose 1.67% for 6-point gain. Tencen...
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The HK market followed A shares to fall sharply. .
Analyst : Lun Sheung Nim (CEO, GEO Securities Limited)
The market opened slightly higher on Friday. Hang Seng index opened up 12 points, H share index up 6 points and technology index up 8 points. JD rose 1.67% for 6-point gain. Tencent rose 0.3% for 4-point gain. HSBC rose 0.3% for 4-point gain. On the contrary, Alibaba lost 0.95% for 14-point loss. Baidu lost 5.4% to become the top loser for 5-point loss. Trip rose 2.1% to become the top gainer. Shanghai composite opened down 2 points. The market rose further after opening. Hang Seng index gained more than 100 points. Baidu reported 19% fall in third quarter profit. Share price fell 10%. Tencent rose 0.98% for 15-point gain. AIA rose 1.67% for 18-point gain. HSBC rose 0.56% for 8-point gain. CCB rose 0.67% for 7-point gain. Xiaomi rose 4.6% for 37-point gain. Hang Seng index reached a high of 19711 points, up 110 points. Handset suppliers rose sharply. Sunny Optical rose 9% to lead the blue chips. AAC rose 11.3%. Q-Tech rose 6.2%. Cowell rose 2.9%. BYD Electronic rose 7.5%. Consumption shares rose. Nongfu Spring rose 5.4%. Chow Tai Fook rose 3.1%. Mengniu rose 2%. Haier Smarthome rose 1.1%. The market turned from gain to loss. Alibaba lost 3.2% for 48-point loss. Meituan lost 2.3% for 38-point loss. HK Exchanges lost 3.3% for 19-point loss. Shanghai composite index closed the morning down 33 points. Hong Kong market followed A shares lower. Hang Seng index closed the morning down 245 points, H share index down 93points and technology index down 50 points. Turnover was $79.6 billion.

Shanghai composite index lost 80 points in the afternoon. A shares’ fall brought down Hong Kong market. The market fell further in the afternoon. Hang Seng index lost more than 300 points. Alibaba lost 4.15% for 62-point loss. Meituan lost 3.4% for 56-point loss. HK Exchanges lost 4.4% for 26-point loss. Tencent lost 1.2% for 18-point loss. CCB lost 1.5% for 14-point loss. Ping An lost 2.5% for 12-point loss. China Life lost 6.8% for 13-point loss. SMIC lost 6.1% for 11-point loss. Pop Mart rose 4% against the falling market. Shanghai composite index’s loss widened to 95 points in midafternoon. Hang Seng index lost more than 400 points. Alibaba lost 4.9% for 73-point loss. Meituan lost 4.4% for 73-point loss. HK Exchanges lost 5% for 29-point loss. Tencent lost 1.8% for 28-point loss. Shanghai composite index closed down 103 points. Hang Seng index reached a low of 19134 points, down 467 points and closed down 371 points, H share index down 148 points and technology index down 112 points. Turnover was $158 billion.

Last Friday night, overseas markets rose DAX rose 176 points. CAC rose 42 points and FTSE rose 113 points. US markets rose. Dow Jones rose 426 points and set record high. S & P rose 31 points and Nasdaq rose 21 points. Hong Kong ADR’s lost 49 points. Night future lost 8 points. We expect the market to rise today.  
 
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